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Sheltering Your Rental Income from Taxes (and Other Tax Tips) | PREI 090

Sheltering Your Rental Income from Taxes (and Other Tax Tips) | PREI 090

FromPassive Real Estate Investing


Sheltering Your Rental Income from Taxes (and Other Tax Tips) | PREI 090

FromPassive Real Estate Investing

ratings:
Length:
20 minutes
Released:
Sep 29, 2017
Format:
Podcast episode

Description

 

Before we get on our show here, I want to remind you about our upcoming Memphis Investment and Property Tour that will be on October 6th and October 7th. It’s a Friday, Saturday. This is a great event. If you can make it, get in touch with our investment counselors here. We are offering free tickets, the tickets are normally $450, and we would love to see you and maybe your spouse down there or your business partner. What we are doing is hosting a unique event in Memphis, Tennessee. It will be a weekend of property tours, speakers and networking mixed with a little Memphis culture. Not only will you see great investment properties but the first full day is where we’re bringing together speakers from all over to address various aspects of today’s real estate investing. That’s going to be a breadth of information and topics. We would love to have you down there and see what we have going on in that great market. Again, this is October 6th and 7th. You can come in as early as Thursday, October 5th. I'm not sure if we have an event on Thursday but we definitely have an event going on on Friday evening. It’s a dinner and a networking mixer. Saturday is open-ended on Saturday evening so we can do whatever we want to do unless you want to fly out that night, but I think a lot of people are going to fly out on Sunday. Contact our office or send us an email through our website at NoradaRealEstate.com and we’ll tell you more about it.

Today’s episode is about sheltering your rental income from taxes and maybe some other tax tips. When it comes to taxes, I pay my taxes, it’s not my favorite thing to do, but it’s something we just all have to come to grips with. Paying taxes just seems to be part of the American life now and ever since the Income Tax Act of 1913, there’s really no way around it. There’s a lot of code in the tax code. Unfortunately, you have to pay your taxes for any types of income you make. Fortunately, the US Tax Code has many, many rules that allow rental property owners to reduce their taxes and save money. If you own property, it’s a huge part of your tax strategy because it is the most tax-favored investment that you can get your hands on, that you can put your investment capital into, and the IRS rewards this type of behavior. If you don’t have property, you really should have some because the tax benefits are fantastic.

I'm not a tax professional or a CPA but I do know many people who are tax advisors and specialists in that area and the fact that they are in the niche, that they deal with real estate investors, that really helps in helping educate you through this podcast, through articles as well as clients because we can put you in touch with them to minimize your tax impact or defer that taxable impact or in some cases, even eliminate completely and forever the tax impact of your income. Our show today is about sheltering and reducing your rental income from taxes. I have a great guest on who is a very, very sharp individual, so just stay tuned.

If you missed our last episode, be sure to listen to Investing in Memphis and Our Upcoming Property Tour

Enjoy the show!

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Sheltering Your Rental Income from Taxes (and Other Tax Tips)
It’s my pleasure to welcome Brandon Hall to the show. Brandon is the owner of The Real Estate CPA. He’s a real estate investor and CPA specializing and providing business advice and creative tax strategies for real estate investors. Brandon’s experience in the Big Four accounting firm and his personal investing experience allow him to provide unique advice to each of his clients.
Released:
Sep 29, 2017
Format:
Podcast episode

Titles in the series (100)

Take the guesswork out of real estate investing. Learn how BUSY PEOPLE like you can build substantial passive income while creating wealth for the long-term. Gain expert knowledge and advice on real estate investing as Marco Santarelli (of Norada Real Estate Investments) shares his strategies and valuable insights with a special emphasis on Turnkey (done-for-you) real estate investments. Discover proven strategies for making money with real estate in ANY market and how to avoid common and costly mistakes. If you’re looking for “bigger pockets” and ACTIONABLE advice on the road to financial freedom, then this is the podcast for you! With new episodes every week, be sure to SUBSCRIBE TODAY!